Fluence Energy, Inc. (NASDAQ:FLNC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Fluence Energy, Inc. (NASDAQ:FLNC) have earned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the stock, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $26.63.

A number of equities analysts have commented on the company. Citigroup cut Fluence Energy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $32.00 to $24.00 in a research note on Tuesday, October 1st. Royal Bank of Canada raised Fluence Energy to a “moderate buy” rating in a research note on Friday, August 9th. Jefferies Financial Group assumed coverage on Fluence Energy in a research note on Wednesday, September 4th. They issued a “buy” rating and a $26.00 price target on the stock. BMO Capital Markets lifted their price target on Fluence Energy from $24.00 to $25.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Finally, Truist Financial lifted their price target on Fluence Energy from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th.

Institutional Investors Weigh In On Fluence Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLNC. PARK CIRCLE Co purchased a new stake in shares of Fluence Energy in the second quarter worth $28,000. US Bancorp DE grew its stake in shares of Fluence Energy by 676.6% in the third quarter. US Bancorp DE now owns 1,693 shares of the company’s stock worth $38,000 after acquiring an additional 1,475 shares during the last quarter. CWM LLC grew its stake in shares of Fluence Energy by 164.4% in the third quarter. CWM LLC now owns 2,842 shares of the company’s stock worth $65,000 after acquiring an additional 1,767 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Fluence Energy by 264.9% in the second quarter. GAMMA Investing LLC now owns 2,956 shares of the company’s stock worth $51,000 after acquiring an additional 2,146 shares during the last quarter. Finally, Blue Trust Inc. purchased a new stake in shares of Fluence Energy in the second quarter worth $58,000. 53.16% of the stock is owned by hedge funds and other institutional investors.

Fluence Energy Trading Down 5.6 %

Shares of NASDAQ FLNC opened at $20.45 on Friday. The stock’s 50-day moving average is $21.12 and its 200 day moving average is $19.53. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of -107.63, a P/E/G ratio of 0.72 and a beta of 2.54. Fluence Energy has a 1-year low of $12.74 and a 1-year high of $27.80.

Fluence Energy Company Profile

Fluence Energy, Inc, through its subsidiaries, offers energy storage products and solution, services, and artificial intelligence enabled software-as-a-service products for renewables and storage applications in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company sells energy storage products with integrated hardware, software, and digital intelligence.